TT E-file how do you send attached statements

Discussion in 'Quicken' started by Auburn Bob, Dec 27, 2004.

  1. Auburn Bob

    Auburn Bob Guest

    I've never electronically filed my tax returns, and I'm wondering how
    you 'attach' statements to TurboTax filings.

    For example, I've always attached a listing of Capital Gains stock
    sales to my tax return. Since there are a lot of entries, it's easier
    to insert just one line with the total into the form and say see
    attached statement for all the details.
    So how does that work, if you are filing electronically?
     
    Auburn Bob, Dec 27, 2004
    #1
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  2. Auburn Bob

    Bill Guest

    Auburn Bob wrote:
    >
    > I've never electronically filed my tax returns, and I'm wondering how
    > you 'attach' statements to TurboTax filings.
    >
    > For example, I've always attached a listing of Capital Gains stock
    > sales to my tax return. Since there are a lot of entries, it's easier
    > to insert just one line with the total into the form and say see
    > attached statement for all the details.
    > So how does that work, if you are filing electronically?


    So you're saying that you just enter a single line in TTax and
    then do the calculations yourself on the individual items
    included there? That's not the way you would need to do it if
    you e-file. You would need to enter each item individually in
    TTax. It will handle the overflow if you print the form, and it
    will be transmitted correctly if you e-file.

    Bill
     
    Bill, Dec 29, 2004
    #2
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  3. Auburn Bob

    Auburn Bob Guest

    Bill wrote:
    > Auburn Bob wrote:
    > >
    > > I've never electronically filed my tax returns, and I'm wondering

    how
    > > you 'attach' statements to TurboTax filings.
    > >
    > > For example, I've always attached a listing of Capital Gains stock
    > > sales to my tax return. Since there are a lot of entries, it's

    easier
    > > to insert just one line with the total into the form and say see
    > > attached statement for all the details.
    > > So how does that work, if you are filing electronically?

    >
    > So you're saying that you just enter a single line in TTax and
    > then do the calculations yourself on the individual items
    > included there? That's not the way you would need to do it if
    > you e-file. You would need to enter each item individually in
    > TTax. It will handle the overflow if you print the form, and it
    > will be transmitted correctly if you e-file.
    >
    > Bill



    That's a problem, as there are too many entries to do each individual
    lot that's been sold. Unless there's a way to import a file, which I
    don't believe is possible.

    In the past my actual return has been done by a professional, and
    that's the way it's been submitted, with an attached schedule having
    the details.

    I'm filing myself this year, and I can put the total LT and ST gains in
    on one line so the tax is calculated correctly, but I don't have the
    patience to enter every lot into TT.

    So it looks like I'll use TT, but will print out the return and mail
    it, unless someone else has another solution.
     
    Auburn Bob, Dec 29, 2004
    #3
  4. Auburn Bob

    Gordon Guest

    Bob I have more stuff then "room" for lots of lines. -- it is common.
    Basically what you do is enter all the stuff in Turbo Tax and you can
    either add lines or copies of forms depending on what specific task.

    Then Turbo Tax calculates the totals, calculates taxes, etc. With
    regard to capital gains, unless you are buying and selling stocks
    without a broker, the government gets the same data you recieve from
    your broker. As long as the figures you use, match those the
    government has -- no problem.

    Technically you have to keep all your backup for 3 years after the
    date you file the return -- that is true whether you send attachments
    with a paper return or do an electronic return.

    It has been my experience refunds are quicker with electronic returns.
    Also you elminate one potential error -- people at the IRS will key
    your return data into the IRS system. If you file electronically the
    chances of the IRA having different numbers then you are essentially
    zero.

    I personally can not see any reason not to file electronically, but I
    am sure there are some special circumstances.

    On 27 Dec 2004 07:33:01 -0800, "Auburn Bob"
    <> wrote:

    >I've never electronically filed my tax returns, and I'm wondering how
    >you 'attach' statements to TurboTax filings.
    >
    >For example, I've always attached a listing of Capital Gains stock
    >sales to my tax return. Since there are a lot of entries, it's easier
    >to insert just one line with the total into the form and say see
    >attached statement for all the details.
    >So how does that work, if you are filing electronically?




    SPAM has driven me to Spoof my email, sorry

    Try: First "dot" Last at Earthlink "dot" net
    Gordon W. Potter
    Atlanta, GA
     
    Gordon, Dec 31, 2004
    #4
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